The homecoming was not what bald Ernest Humphrey Scott, president of Chicago's E. H. Scott Radio Laboratories, Inc., had expected. Back from a trip to Australia, he found the Scott Company's capitalization increased from 6,000 to 251,850 shares on the strength of wartime sales to the Navy. Almost 225,000 shares had already been sold to the public for $703,125. And Founder Scott found himself demoted from his $18,000-a-year job as president to advertising & sales manager.
In a 3,500 word letter, Scott turned down the job. Then he bought two-column advertisements in Chicago's Sun and Daily News announcing his resignation...
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